US stocks were higher in early trading on Wednesday, as investors awaited the outcome of the Federal Reserve's policy meeting.Image Credit: Google
The Dow Jones Industrial Average rose 0.3%, while the S&P 500 and the Nasdaq Composite both gained 0.2%.Image Credit: Google
Fed policymakers are widely expected to leave interest rates unchanged at their two-day meeting, which concludes later on Wednesday.Image Credit: Google
In economic news, data showed that private sector payrolls rose by more than expected in the month of September.Image Credit: Google
The ADP National Employment Report showed that private sector employment increased by 135,000 jobs in September after climbing by a revised 103,000 jobs in August.Image Credit: Google
Economists had expected an increase of about 125,000 jobs compared to the addition of 104,000 jobs originally reported for the previous month.Image Credit: Google
With the bigger than expected increase, private sector employment has now risen by an average of 132,000 jobs per month over the past three months.Image Credit: Google
The report also showed that manufacturing payrolls increased by 3,000 jobs in September after edging down by 1,000 jobs in August.Image Credit: Google
Service-providing employment rose by 132,000 jobs in September after climbing by 102,000 jobs in the previous month.
Employment in the goods-producing sector also increased by 3,000 jobs in September after showing no change in August.